Efficient market-clearing prices in markets with nonconvexities

By Richard P. O'Neill, P. Sotkiewicz, Benjamin F. Hobbs, Michael H. Rothkopf, W. Stewart. European Journal of Operational Research, 2005

452 citations recorded by the source corpus.

Subfields: Electrical and Electronic Engineering, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/314176fd8123e13b7157e4a0fe5243b831ec7d28

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In Electrical and Electronic Engineering

In Management Science and Operations Research

Citations in the corpus

Combinatorial auctions (2007, unknown): “More recently, (O’Neill et al. 2005) presented a primal-dual method to construct a set of linear prices that support a Walrasian competitive equilibrium in markets with non-convexities.”
Evaluating the Impacts of Real-Time Pricing on the Usage of Wind Generation (2009, background): “This use of linear energy and ancillary service pri ces does raise the issue of economic confiscation, due to the non-convexity of generator costs [12], [13], and [14].”
A Convex Primal Formulation for Convex Hull Pricing (2016, unknown): “Keeping marginal prices as uniform energy prices, the pricing scheme proposed in [7] introduces artificial constraints that set the commitment variables at a welfaremaximizing solution and create discriminatory side payments for commitment decisions based on the optimal dual variables associated wit”
Renewable Electric Energy Integration: Quantifying the Value of Design of Markets for International Transmission Capacity (2013, unknown): “Economists refer to such prices as ‘equilibrium supporting prices’ (O’Neill et al., 2005) In other words, market‐based prices achieve the same goal of congestion management as the direct command of generation by traditional vertically‐integrated utilities.”
Market and Policy Barriers to Deployment of Energy Storage (2012, background): “These benefits are not captured in the market, since these non-convex startup and shutdown costs are not signaled by LMPs. O’Neill et al. (2005) develop a pricing scheme that signal these non-convex cost benefits, however their method is computationally 3Ice Energy has recently adopted this approach”
Pricing Non-Convexities in an Electricity Pool (2012, methodology): “Note that this price is analogous to the commodity price described in [5].”
Economic Consequences of Alternative Solution Methods for Centralized Unit Commitment in Day-Ahead Electricity Markets (2008, background): “Recently, O’Neill at al [7] propose a set”
Optimal transmission switching with contingency analysis (2009, background): “By setting the integer variables to their values in the best solution found, the resulting problem is a linear program and the resulting dual is well defined [25].”
Dispatchable transmission in RTO markets (2005, background): “where we have added a constraint for each discrete value fixed at its optimal value and have added Lagrange multipliers for these constraints (see [17]).”